Warren Buffett broke his silence on President Trump’s trade policies, comparing his planned tariffs on Canada and Mexico to an “act of war.” The legendary investor behind Berkshire Hathaway – which has large businesses in insurance,

Donald Trump on Monday said that Canada and Mexico can't avert his sweeping tariffs, due to come into effect on Tuesday.

Warren Buffett says tariffs are “an act of war, to some degree.” Berkshire Hathaway’s chairman and chief executive said the country has had a lot of experience with tariffs, and that over time they are a tax on goods.